Floor & Decor Holdings, Inc. (NYSE:FND) Sees Significant Increase in Short Interest
Floor & Decor Holdings, Inc. (NYSE:FND – Get Rating) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 6,070,000 shares, a growth of 32.0% from the May 31st total of 4,600,000 shares. Currently, 5.9% of the company’s stock are sold short. Based on an average trading volume of 1,460,000 shares, the short-interest ratio is presently 4.2 days.
FND stock opened at $64.97 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.16 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $6.88 billion, a PE ratio of 25.18, a PEG ratio of 0.89 and a beta of 1.77. Floor & Decor has a 1-year low of $59.91 and a 1-year high of $145.89. The business’s 50 day simple moving average is $72.67 and its 200 day simple moving average is $91.45.
Floor & Decor (NYSE:FND – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1 billion. Floor & Decor had a return on equity of 20.21% and a net margin of 7.57%. The firm’s revenue was up 31.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 EPS. As a group, sell-side analysts predict that Floor & Decor will post 2.89 EPS for the current fiscal year.
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FND has been the topic of several research reports. Wells Fargo & Company cut their target price on Floor & Decor from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 8th. TheStreet cut Floor & Decor from a “b” rating to a “c+” rating in a research note on Tuesday, March 22nd. The Goldman Sachs Group cut Floor & Decor from a “buy” rating to a “neutral” rating and cut their target price for the company from $109.00 to $64.00 in a research note on Monday, June 27th. Wedbush cut their target price on Floor & Decor from $130.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, May 6th. Finally, Citigroup dropped their price objective on Floor & Decor from $137.00 to $106.00 in a research note on Friday, May 13th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $107.92.
Several hedge funds have recently bought and sold shares of the stock. YorkBridge Wealth Partners LLC grew its holdings in Floor & Decor by 3.0% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 3,392 shares of the company’s stock valued at $441,000 after buying an additional 99 shares in the last quarter. Intrust Bank NA grew its holdings in Floor & Decor by 3.1% in the 4th quarter. Intrust Bank NA now owns 3,534 shares of the company’s stock valued at $459,000 after buying an additional 107 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Floor & Decor by 3.0% in the 4th quarter. CIBC Asset Management Inc now owns 4,348 shares of the company’s stock valued at $565,000 after buying an additional 125 shares in the last quarter. Resonant Capital Advisors LLC grew its holdings in Floor & Decor by 2.9% in the 4th quarter. Resonant Capital Advisors LLC now owns 4,451 shares of the company’s stock valued at $579,000 after buying an additional 126 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Floor & Decor by 163.6% in the 4th quarter. Quadrant Capital Group LLC now owns 203 shares of the company’s stock valued at $26,000 after buying an additional 126 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.
About Floor & Decor (Get Rating)
Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer and commercial flooring distributor of hard surface flooring and related accessories. The company’s stores offer tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative and installation accessories.
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